On Thursday, the KLCI gained up to 4 points of its daily high but closed at 1583.24 points, gaining only 0.71 points. As indicated by A, the KLCI is still supported by the 14, 21, 31 EMA dynamic support thus the uptrend remains intact. Resistance stays at 1597.08 or 1600.

As indicated by B, total market volume fell 20.40%, but volume remains above the 40-day Volume Moving Average. However, losers still outnumbered gainers, but only by margin. Meanwhile, most of the heavily traded counters are still penny stocks, thus the relatively higher volume failed to reflect any improvement of the market sentiment.

As indicated by C, the Stochastic retreated slightly, but still above 70%, in the short-term bullish territory. This suggests that the short-term movement of the KLCI is still on the positive side.

In conclusion, the uptrend of the KLCI is still in place. But in order to sustain this uptrend, the KLCI would not only have to stay above the dynamic support, but to also break above its resistance, and the break out would have to be confirmed with strong volume.